Purpose

The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know the level of accuracy of valuations in order to make rational residential property transactions, amongst other purposes.

Design/methodology/approach

A blend of descriptive and causal designs was adopted for the study. Data were collected via structured questionnaire administered to 179 estate surveying and valuation (ESV) firms in the study areas using census sampling technique. Analytical techniques such as median percentage error (PE), mean and relative importance index (RII) analysis were employed in the analysis of data collected for the study.

Findings

The study found that valuation accuracy is greater in the residential property market in Abuja than in Minna, with inappropriate valuation methodology as the most significant cause of valuation inaccuracy.

Practical implications

The practical implication of this study is that a reliable databank should be established for the property market to provide credible transaction data for valuers to conduct accurate valuations in these cities. Strict enforcement of national and international valuation standards by the regulatory authorities as well as retraining of valuers on appropriate application of valuation approaches and methods are the recommended corrective measures.

Originality/value

No study has comparatively examined the accuracy of valuations in two extremely different residential property markets in the country using actual valuation and transaction prices.

中文翻译：

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尼日利亚明纳和阿布贾住宅房地产市场的估值准确性

目的

人们对尼日利亚住宅估值准确性的日益关注，使得研究区域住宅房地产市场的主要利益相关者需要了解估值的准确性水平，以便进行合理的住宅房地产交易等。

设计/方法论/途径

该研究采用了描述性设计和因果设计的结合。数据是通过使用人口普查抽样技术对研究区域内的 179 家房地产测量和评估 (ESV) 公司进行结构化调查问卷来收集的。在对研究收集的数据进行分析时，采用了中位百分比误差（PE）、平均值和相对重要性指数（RII）分析等分析技术。

发现

研究发现，阿布贾住宅房地产市场的估价准确度高于明纳，其中估价方法不当是造成估价不准确的最主要原因。

实际影响

本研究的实际意义在于，应该为房地产市场建立一个可靠的数据库，为评估师在这些城市进行准确评估提供可信的交易数据。建议的纠正措施是监管机构严格执行国家和国际评估标准，并对评估师进行适当应用评估方法和方法的再培训。

原创性/价值

目前还没有研究使用实际估值和交易价格来比较检验该国两个截然不同的住宅房地产市场的估值准确性。